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They must have made this stuff already but decided to keep it back until later
How could you know that?
I'm betting there will be more to the hard mode than just taking more damage etc. It's very unlikely that new story content is complete although it has probably been worked on to some degree.
This game already seems massive in content, never understood why people complain about getting more (optional) content for good games, especially while the base game is good value already. Is it because people want to sell their games after finishing them and this disrupts that?
If you feel the day 1 bonuses are naff then you are under no obligation to buy into the pass early - I'm not going to. That "Nintendo Switch" Shirt for Link is going to ruin the immersion abit anyway